Team Herald
PANJIM: Despite Chief Minister Dr Pramod Sawant in the Assembly stating that the State’s economy is not bad, Goa is set to borrow another Rs 100 cr this month.
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The State has issued a notification for the sale of stocks worth Rs 100 cr on February 17. The development comes close on the heels of the State borrowing a whopping Rs 680 cr in December.
The notification issued by Finance Secretary Daulat Hawaldar states, “Government of Goa hereby notifies the sale of Goa Government Stock (Securities) of 10-year tenure for an aggregate amount of Rs 100.00 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called specific notification) as also the terms and conditions specified in the General Notification No. 1-45-2005/Fin (DMU)/572 dated April 25, 2017 of Government of Goa”.
“The proceeds of the loans will be utilised for financing capital expenditure in connection with the development programmes of the Government of Goa,” the notification says, adding, “Consent of Central Government has been obtained to the floatation of this loan as required by Article 293(3) of the Constitution of India.
As per the Budget documents the State has already taken loan in excess of Rs 2,500 up to December 2019. The total debts of the State has increased above Rs 15,000 as per the budget figures.
